Bloomsbury Publishing ups profit guidance as reading in lockdown booms, with high demand for Biden biography

Bloomsbury Publishing has said profits will be ahead of expectations, after a strong performance with high demand for books such as the new biography of US president Joe Biden.

The firm, led by Nigel Newton who founded the business in 1986, said revenues will be ahead, and profits “well ahead” of what analysts had pencilled in for the year to February 28

The City had been expecting sales of around £161.8 million and pre-tax profits of £12.1 million.

Bloomsbury said it has seen strong trading in its consumer books arm. Bestsellers so far in the second half include the new titles Eat Better Forever by Hugh Fearnley-Whittingstall, Outlawed, Joe Biden - American Dreamer and Humankind.

The Harry Potter publisher added that there had also been a good performance from titles released before the second half, such as Why I'm No Longer Talking to White People About Race.